Tel Aviv stocks closed unchanged, up a negligible 0.1% in a dull Thursday session. The Maof-25 blue chip index closed unchanged at 415.9 points, and the TA-100 index closed up 0.1% at 400.8 points. Technology shares closed with 0.1% gains. Total turnover came to NIS 676 million, moderate volume for options expiry days.
The Maof-25 index closed up 0.4% to 417.3 points for the purpose of options expiry. Turnover at expiry was moderate at NIS 390 million.
Nasdaq Wednesday gains and the options expiration lifted stocks 0.5% at opening. The 0.5% gains lasted most of the session, but around 3:00pm stocks slid to mild losses of as much as 0.5%.
Teva Pharmaceuticals (Nasdaq:TEVA) closed down 0.3% on the session's biggest volume, NIS 80 million, after opening with 1.2% negative arbitrage. Bank Hapoalim reiterated a Buy rating, setting $78 as price target, 30% higher than the share price on Nasdaq. The bank predicts that series of products recently approved by the U.S. Food & Drug Administration will contribute $150 million for sales in 2002.
Phone company Bezeq dropped 1.1% after dropping 4.5% in the last two trading days. The company on Tuesday released a profit warning for 2001, and said that its results will be markedly negatively affected by the substantially deeper losses of subsidiary Pele-Phone Communications, in which Bezeq has 50%. Bezeq said that Pele-Phone is expected to post one-time write-downs in the fourth quarter relating to capital equipment. Bezeq said that the Pele-Phone results do not indicate deteriorated operations.
Lipman Electronic Engineering gained 3.6% on NIS 4 million volume. The company posted NIS 265.8 million revenue for 2001, 7% more than in 2000, and NIS 50.5 million profit, 70% more than in 2000. Ma'ariv closed unchanged. The company restated Q3 financial results, writing down NIS 3.8 million on holdings in Matav Cable Systems (Nasdaq:MATV).